Honestly that personal finance isn't a required high school class is insane. We have always involved our son in finance activities and made sure to teach him how to do all the adult things - accounts, budgets, taxes - but it's been shocking how many of his college friends didn't even know how to open a basic checking account.
In some states it is, finally! I live in MA and its a graduation requirement to take a financial literacy class. Its only for 1 semester and not the whole year but its a start.
My kids actually had a financial class in NY in the 2000's. My son picked stocks and had he invested actual money, he would have ebded up a millionaire. Then when the class was over, they willed it to an underclassmen. So again, they learned financial lessons that, not all kids start out on the same foot. My son started out with nothing, FYI.
Massachusetts was one of the wise states that refused and rejected common core in favor of letting the local government set the standards rather than the federal government. It’s important to fight in your own states that your own state be allowed to decide the standards for your school. It might sound good to force higher standards on areas where 20% of the high school “graduates” are considered illiterate, but what is really needed in those schools is to go back to the basics. Common core is a one size fits all solution, that isn’t a solution at all. People love to talk about how other countries do better. The standard and other countries is actually for the teachers to be better. No one wants to hear that, but it’s the truth. In order to have freedom and how you teach in the Netherlands you go under extreme scrutiny, observation, and feedback before you’re ever allowed to teach students without help. More money is not spent on education in areas where there’s great success, more time is spent on making sure teachers are actually qualified to teach and actually teaching. So much of what is pushed in classrooms is not giving children the basic foundation they need, individuals are teaching their own beliefs and to the common core standards, but not actually teaching the students how to succeed. Massachusetts has the number one rank on education. Bill Gates little $200 million dollar common core experiment slowed potential advancement down, it failed. Politicians and billionaires do not know what’s better for our children over the actual parents and our teachers who have real needs for support that shouldn’t be dictated by policy and approved curriculum from another state. One size never fits all. And to be completely honest what they’re doing in Massachusetts would not work out I in a rough part of Chicago. One size does not fit all.
I sold a Beanie Baby my mom bought me. She was upset. My husband and I needed the $104*, and I knew the price bubble was going to pop sooner or later. *in 90s dollars, that was a couple weeks groceries for our family because I was a bargain-hunting _queen._
I worked at a Hallmark store in the late 90s and still think about this guy that would buy 10 of each Beanie Baby as they came out as an investment. He would be around retirement age now. Hopefully he was able to sell them before they lost all their value.
😂😂😂😂 dont forget the absolute horror of dropping your walkman and watching the batteries, door and cassette flying off in different directions while you cursed your teenage life
I remember this happened to me just when I had repaired the insides of my Walkman. I was heavily crying and saddened because it took me a lot of work. 😂😢
Basic financial management should be part of elementary math in school. Earning, budgeting, borrowing and investing are necessary tools to achieve financial security yet are overlooked as part of a basic education. This sounds like a great option to teach kids about managing money.
I remember discussing with a co-worker in the early 2000’s how to set up a funding flow for our newly enrolled college students to help them organize their spending cash while on campus, and soooo distinctly remember saying that I wish there was a simple card system that we could load monthly, at our disgression…and when they ran out of cash…oh, too bad, honey - you’ll just have to wait until next month. Cuz that bank account I opened for my kid sure wasn’t a financial success. 😮
Then there must be something wrong with me. 90% of the time I go to target I don't buy anything (although I have one within walking distance so maybe that is it).
I remember saving my babysitting money. My hustle in high school was I'd buy a carton of cigarettes, I never smoked myself, and I'd sell individual cigarettes for $1. My friends mom worked at the convenience store, and she knew that I didn't smoke, so she'd buy the cartons for me. Also, I threw in a stick of gum, usually juicy fruit with each cigarette sold!
Going to add to the nerdiness on fixing cassette tape: I had a Lego crank system attached to old #2 pencils (the erasers were gone; so useless). Every generation gets new financial obstacles. Any way to keep that "retirement" as an end game though is huge. Love you guys 😊
Kim you are so funny!!! 😆🤣😆🤣 Esp. at the end where you explain how to work the cassette player. Love the way you pushed those buttons. I used to record off the radio ALL the time. Stayed home just to wait for a favorite song so I could push that button in time. Our free music back then. I still have ALL my handmade tapes. They still play and have lots of GREAT music on them. Earth Wind & Fire, Bob Dylan, etc. the 70s was the BEST decade of music....all kinds. Remember how huge Barbara Streisand was back then.
Smart kids would get a drill, insert pencil, tape it, to rewind the tape, lol. Or, get the pencil and spin the cassette tape around like a party noise maker to make it go faster, if you cant do the drill option. And how is it our vhs tapes last longer? Cassettes would vanish like socks in a dryer, lol.
We love Greenlight here too! We teach the kids to give, save & spend. I admit though, once they have a part-time job, we transition to a checking account & a more advanced budgeting app.
If you want to REALLY confuse them go through a drive thru (or any store) and give $20.31 for a $7.31 purchase. You can see the "does not compute" sign flashing over their head. The first time I saw this I thought I had broken them. Lol I'm one of the weird ones that uses cash and e-bill. If I use up my cash then my spending is done. Lol
Financial Counselor here. This greenlight thing makes me cringe a bit. Cash is the best way to teach financial responsibility because it’s tangible. Paying for a program like to this is foolish and lazy. If you can’t learn to regulate yourself with cash, you won’t make it when mommy and daddy aren’t controlling your spending limit anymore. Job security for me I guess. 😏
"I'd never understand bitcoins", thats what I always thought until Penn says the 90s Beenie Babies comment and I realized I've been 30 years into bitcoins !
Why all this helicopter parenting?! Mygod let them go places do things and learn. Hell you parents freaking spy on your kids; that should be illegal tbh and it's just creepy
Gonna admit, this didn't go the way I thought it would. I thought it was gonna be what kids spent their money on in the 90s versus today but still just as fun.
Hahahaha! I remember "borrowing" my moms old cassettes and taping over the little indents on top so that I could record over them. Instant blanks, my sister and I called them. 😂 I remember making mental notes of the tapes our mom would listen to during the many many days/weeks it would take to record over a cassette. We didn't want to get into trouble and end up grounded for taping over her favorite cassette tapes... that would have been dangerous territory. 😬 #worthit Edited to add that kids today will never know the torture of nights and weekends calling in to the radio stations to request they play a song and then praying that the DJ would not only answer our call but would then play the song we would request. Hence the days/weeks it would take to record over a cassette. 😂 Another edit: I was born in 91 making me 32 years old. Some might say that I'm "too young" to know about any of this but my sister was born in 84 and she is almost 40, so yeah, there's that. 😂
I must predate you just a little, I recorded music and even movies from the TV on reel to reel, I pulled the speaker from the TV and put alligator clips on the connection to a cable to the recorder. Then later i moved to 8 track, no rewinding had to wait till the track came back around. Want some fun pull apart an 8 track tape and check out how it works. (Archaic) 😂 Anyhoo spot on the the cassette player. Love the vids
I’ve had Greenlight for my daughter since 2018 or 2019. It’s worked great for us and we have never had any issues. Her allowance transfers every month. If I need to give her money for activities I can transfer it to her card. She even customized the card with one of her art drawings.
50% of public school kids fail all standardized tests, so it’s not surprising the statistics are the same for financial literacy. The kids that succeed have parents that are involved and invested in their kids. Decades of research all say the same thing. So, if a parent gets involved in their child’s education, financial or otherwise, they’re going to be doing better than the majority of their peers. - I know this is a sponsored video, and it’s great to know about new tools to aid parents in teaching their children financial literacy (which I’m definitely going to look into to help my kids, thank you), but the facts remain the same, so the reality limits the humor, for me.
"...and it only takes about an hour and a half..." - I wish I could get back all those 90-minute slices of time wasted, but we didn't know any better then. Great video, thanks.
NC now requires an Economics and Personal Finance class in high school. My son is a senior and is taking it this year. This is either the first or second year it’s being offered.
I recall a bit of advice my dad gave me on saving money. "Whenever you get a pay raise, put at least half of that raise into a savings account on payday." The object was saving money for big purchases when I got older. The reality was raiding that account for something I just "couldn't live without" at least 6 times a year!! Advice is just a challenge for me to identify ways to sabotage it. 🤑
